Hey there! 🌟 So, my manager just gave me a 6% raise, bumping my salary from $90k to $95k as an application support analyst/developer. It’s actually my first raise in 3 years since starting with the company.
## Is a 6% Raise Decent in Today’s Market?
You might be thinking, “Should I pack my bags?” given the circumstances. But before you make any sudden decisions, let’s dive into the details.
### Assessing Your Raise
– Look at industry benchmarks: Check out salary surveys and industry reports to see how your raise compares.
– Consider cost of living: If your raise keeps up with inflation and cost of living increases, it could be considered decent.
– Evaluate your growth: If you’ve taken on additional responsibilities and grown in your role, a raise can reflect your added value to the company.
#### Examples and Insights
– A recent survey found that the average raise in the IT field is around 3-5%. So, a 6% increase could be considered above average.
– Other companies may have frozen salaries or offered lower raises due to economic conditions, making a 6% raise quite competitive.
### Long-Term Perspective
While a 6% raise is a positive step, it’s also important to think about your long-term career goals. Consider whether this raise aligns with your salary expectations and future growth opportunities within the company.
#### Actionable Steps
1. Express gratitude: Thank your manager for the raise and discuss your career goals moving forward.
2. Develop a career plan: Outline where you want to be in the next few years and how this raise fits into your overall trajectory.
3. Consider market trends: Stay informed on industry trends and salary benchmarks to ensure you’re being fairly compensated.
In conclusion, a 6% raise can be considered decent in the current market, especially if it reflects your contributions and growth within the company. Take the time to assess your situation, think about your future goals, and make informed decisions moving forward. Good luck with your career journey! 🚀
that’s pretty good.
edit: that’s not good. I misread and didn’t see 3 years.
No, you didn’t get a raise in compounded hyperinflation 2021 to 2024. 6% when inflation was 4% in 2023 is gross. If you complain you’ll get a check mark next to your name in this economy. You always should be looking to pack your bags for better with these wage slave owners. Tier 2 support analyst 2.75% scheduled for 2024.
6% is good if it’s yearly, but 6% for three is pretty horrible, I always shoot for 4-8% each year.
You should be a getting a raise every year for a CoL adjustment at the minimum. And if those stop, you should start applying to other employers immediately
Y’all are getting raises?
Pack your bags? You’re upset about a 6% raise? Do not quit. Do not bother looking. You’re overreacting in a negative way to good news. Celebrate. News flash, its rough out there for I.T. folks out of work.
6% percent in three years averages to 2% percent.
Here is the kicker: due to inflation, your purchasing power might be even less than when you started.
I would start touching up your resume and make sure that you have all your ducks in a row before job hopping. If a company is having legal issues that would be a big red flag for me. The first raise in 3 years either means your company isn’t making enough revenue to give you one or your performance wasn’t the best. The biggest raise I got was about 27% which was the year I graduated with my Masters Degree in IT Management. Prior to that, I would consistently get around 5% to 8% raises. Best of luck on what you decide to do!
I got 2% and not even half the bonus of a year ago but don’t worry. We had a record year.
On my second year at my current job as a field service tech I got a 2.5% raise. Now, entering my third year with the company, I’ve been told we may not get a raise this year due to the company not making its goals. Before my fourth year I plan to move on to better opportunities.
Yes.
Initially I was like ya that’s not bad but over 3 years you’re getting hosed and losing money due to how high inflation is
I get 3% COL and 3% merit yearly and 10% for promotions.
Get the raise and start looking. You should be getting at least 3% each year.
Think about this: last year inflation was 3% but the previous two were like 7% each. Due to how inflation compounds rather than just adding together, that’s roughly an inflation of 18% in the past 3 years. So you gained 6% but lost 18. So you made a “Raise” of -12%.
I just got 2 pay raises in 6 months. Went from 66k to 96k. I was really underpaid being a network engineer 2.5 years ago.